Cummins Inc. (NYSE:CMI) Shares Acquired by St. Johns Investment Management Company LLC

St. Johns Investment Management Company LLC boosted its position in Cummins Inc. (NYSE:CMI) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,062 shares of the company’s stock after purchasing an additional 103 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in Cummins were worth $1,765,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC grew its stake in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Cummins during the 3rd quarter valued at $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cummins during the 3rd quarter worth $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Cummins in the 3rd quarter worth $55,000. Finally, Friedenthal Financial purchased a new stake in shares of Cummins during the fourth quarter valued at $55,000. 83.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CMI. Robert W. Baird lifted their price target on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Jefferies Financial Group upped their price target on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $374.25.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 6,489 shares of company stock worth $2,357,531 in the last 90 days. 0.56% of the stock is owned by insiders.

Cummins Price Performance

CMI opened at $369.32 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 1 year low of $234.49 and a 1 year high of $387.90. The stock has a fifty day moving average price of $363.72 and a 200 day moving average price of $329.82. The stock has a market cap of $50.66 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.73 EPS. Analysts forecast that Cummins Inc. will post 21.92 EPS for the current fiscal year.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.